Trade war erupts as Trump hits Canada, Mexico and China with tariffs
President Trump’s 25% tariffs on Canada’s and Mexico’s exports to the U.S. and new levies on China took effect early Tuesday.
Why it matters: Trump’s confirmation of the tariffs sent markets sliding Monday amid fears it could raise prices for U.S. customers, see inflation soar and start a trade war — and Canada and China took retaliatory action against U.S. products as tariffs targeting their countries took effect.


